Clearnet Details Record Subscriber Growth For 1997
Federal Filings via Dow Jones
FORM TYPE: BusWire
ISSUER: CLEARNET COMMUNICATIONS INC.
SYMBOL: CLNTF
PICKERING, Ontario--(BUSINESS WIRE)--Jan. 8, 1998-Clearnet
Communications Inc. ("Clearnet") today announced that the Company ended
1997 with over 150,000 subscribers including approximately 95,000
digital (Mike and Clearnet PCS) subscribers. The Company also reports
1997 segmented subscriber results which indicate that
Clearnet experienced what is believed to be the most successful launch
quarter of PCS subscriber additions ever reported by any North American
operator as well as another record quarter for Mike subscriber growth.
Total Mike and Clearnet PCS digital subscriber net additions for the
fourth quarter of 1997 were 65,575.
1997 PCS Subscriber Results
Clearnet PCS service commercially launched in certain Canadian
metropolitan areas on October 15th, 1997 and accordingly fourth
quarter results represent only 75 days of results and there are no
comparable prior period results. Net Clearnet PCS subscriber additions
for the fourth quarter ended December 31, 1997 were 50,676. POPs
covered by Clearnet PCS service (the population residing in a Clearnet
coverage area with digital Clearnet PCS service) was approximately 10.5
million at December 31, 1997.
George Cope, Clearnet's President & Chief Executive Officer,
commented that "Clearnet's fourth quarter subscriber results indicate
that Canadians agreed that it is finally time to buy a wireless phone
and for a record number their choice was Clearnet. Not only were
Clearnet PCS subscriber results a North American launch record despite
selling for less than a full quarter, but also this tremendous success
was achieved despite difficulties in obtaining sufficient handset
quantities to satisfy market demand which greatly exceeded
expectations. Clearnet PCS subscriber additions for the launch quarter
were more than twice the results expected for Clearnet PCS by the vast
majority of investment analysts and Clearnet itself prior to the
October service launch. The entire Clearnet launch team should feel
proud of this record accomplishment. This early success bodes
extremely well for Clearnet in 1998 as the Company expects to be
adequately supplied with its dual-mode PCS handsets to meet demand
throughout the year."
1997 Mike Subscriber Results
Net Mike subscriber additions were 14,899 in the fourth quarter
ended December 31, 1997 bringing total Mike subscribers to 44,549. The
fourth quarter net Mike subscriber additions represented (i) a 50
percent increase in the total number of Mike subscribers as compared to
the 29,650 at September 30, 1997; (ii) a 33 percent increase over the
11,175 net additions in the third quarter of 1997, (iii) a 194 percent
increase over the 5,065 net additions for the fourth quarter of 1996;
and (iv) the largest quarterly number of net subscriber
additions since launching the Mike network 15 months ago. POPs covered
by Mike service was approximately 14 million at December 31, 1997.
George Cope commented that "Mike subscriber growth in the fourth
quarter was another record result. It was particularly noteworthy that
Mike demand for Clearnet's business communications service accelerated
since the time of launching our Clearnet PCS service in mid-October.
This affirms the unique Clearnet advantage of offering two
complementary state of the art digital wireless services which satisfy
the specialized needs of both the commercial and mass consumer
applications for wireless service. No other wireless company in the
world benefits from this advantage."
Analogue SMR
Analogue SMR net subscriber additions were negative 2,983 in
the fourth quarter ended December 31, 1997 reducing total analogue SMR
subscribers to approximately 56,687 at December 31, 1997 as compared to
59,670 at September 30, 1997. 1,985 analogue SMR subscribers
migrated to the Mike network in the fourth quarter.
As disclosed in Clearnet's 1996 annual report, the Company's
objective for 1997 was to exceed 100,000 total subscribers by December
1997. Total Clearnet subscribers (including analogue SMR, Clearnet PCS
and Mike) were 151,912 at December 31, 1997 representing an increase of
92,609 or 156 percent as compared to 59,303 at December 31, 1996.
The subscriber results disclosed in this release are subject to possible
adjustment per Clearnet's normal period end review and annual audit
process. Clearnet expects to announce complete fourth quarter financial
results per its normal release schedule on February 20th, 1998.
Clearnet is a leading Canadian wireless communications company
that operates three separate wireless networks: the digital Clearnet PCS
nationally, the digital Mike network in Ontario and Quebec as well as
analogue dispatch communication services across Canada.
CONTACT: Clearnet Communications Inc., Media:
Mark Langton, Mike: 416/684-3454
Office: 905/837-3454
mlangton@clearnet.com
or
Clearnet Communications Inc., Investor Relations:
Greg Bewsh, Mike: 416/684-3041
Office: 905/837-3041
investorrelations@clearnet.com
hjl
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